CLARIFICATION of Hutchinson Technology Press Release.HUTCHINSON, Minn. -- Hutchinson Technology ''This article or section is being rewritten at Hutchinson Technology is an acknowledged world leader in precision manufacturing. Specializing in design and manufacture of close-tolerance products that require chemical, mechanical and electronic technologies. Incorporated (Nasdaq:HTCH) wishes to issue the following clarification to its release, BW5826, (MN-HUTCHINSON-TECHNOLOGY) "Hutchinson Technology Reports Third Quarter Earnings Per Share of $1.30; Third Quarter Results Include Tax Benefit of $36.2 Million, or $1.14 Per Share" issued earlier Thursday: Hutchinson Technology Clarifies Guidance for Fiscal 2004 Fourth Quarter Fourth Quarter Results Expected to Range from Breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations to Profit of $0.10 Per Diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. Share Hutchinson Technology Incorporated (Nasdaq:HTCH) today clarified that it expects its results for the fiscal fourth quarter ending September 26, 2004 to range from breakeven to a profit of $0.10 per diluted share on net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $100 to $110 million. A statement in the company's fiscal third quarter results announcement, issued today after market close, was misinterpreted in some reports as projecting a loss of up to $0.10 per diluted share. A replay of the company's third quarter results conference call is available on the company's web site at www.htch.com by dialing 800-633-8284 (or 402-977-9140 from outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ) and entering 21199425# at the reservation number prompt. The replay will be available until approximately 6:00 p.m. CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT on July 26 by telephone and for a longer period on the company's web site. Hutchinson Technology is the leading worldwide supplier of suspension assemblies for disk drives. Hutchinson Technology's BioMeasurement Division provides health professionals with simple, accurate methods to measure the oxygen in tissue. This announcement contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding the company's anticipated financial results. These statements involve risks and uncertainties. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of acceptance and adoption of innovative product features, achieving volume production levels on disk drive programs, the company's ability to fully realize anticipated yields and productivity, the company's ability to fully realize anticipated cost reductions, changes in market consumption of disk drives or suspension assemblies, faster or slower improvements in disk drive data densities which affect suspension assembly demand and other factors described from time to time in the company's reports filed with the Securities and Exchange Commission. |
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